Plummeting car sales, heavy discounting of new vehicles and lower levels of servicing work have combined to catastrophic effect on the automotive retail market in the UK, which has seen franchised dealership insolvencies double year on year.
That is the view of Ernst & Young, which in a new report reveals a total of 24 dealer [...]

Ernst & Young, a global leader in assurance, tax, transaction and advisory services has responded to the latest SMMT car registration figures
Eric Wallbank, Ernst & Young’s UK head of automotive, gave his views on the SMMT’s car registration figures for February.
Wallbank stated, “The 21.9% fall in car registrations in February was less severe than many [...]

Eric Wallbank, Ernst & Young’s UK head of automotive comments on the SMMT’s latest car registration figures, “The rapid decline in sales volumes has been worse than many expected, with the current economic climate creating volatility and unpredictability in the automotive industry. The automotive industry across Europe now appears to be suffering in the difficult [...]

Global IPO activity has fallen to its lowest level since 2003, according to the quarterly Global IPO update from Ernst & Young. In the third quarter of 2008, a total of 159 IPOs worldwide raised US$13.1 billion in capital. This is the lowest level of quarterly activity – by number of deals and capital raised [...]

Philippe Peuch-Lestrade, a partner in Ernst & Young et Associés, has been appointed to lead Ernst & Young’s new Global Government and Public Sector Center, based in Brussels, Belgium.
In his new role, Philippe Peuch-Lestrade will focus on public finance management – advising on transparency, cost reduction and accountability on public policies. “Around the world, governments [...]

Ernst & Young today announced that its combined worldwide revenues increased to US$24.5 billion for the fiscal year ending 30 June 2008. This represented a year-on-year revenue increase of US$3.4 billion and a growth rate of 16.2% (9.5% in local currency [lc] terms). This growth was the result of winning new clients and the introduction [...]

The “Ernst & Young 2008 Global Information Security Survey” shows that a growing number of organizations recognize the link between information security and a strong brand and reputation.
The survey, which canvassed nearly 1,400 senior executives in more than 50 countries, shows that most believe that a security incident would have a greater impact on reputation [...]

Brazil has displaced the US as the most attractive country for investment in biofuels. This is according to the latest Ernst & Young “Biofuels country attractiveness indices”, which score countries on their attractiveness for investment in biofuels.
Jonathan Johns, head of renewable energy at Ernst & Young, says Brazil’s attractiveness has been boosted following the 1 [...]

As climate change moves up the corporate agenda, cleantech investment is reaching record levels according to Ernst & Young. Climate change challenges are creating opportunities for next generation technologies as companies seek to respond to stakeholder expectations, current and anticipated regulation, and rising energy costs. In addition, climate-smart companies view this as an opportunity to [...]

A new Ernst & Young analysis of the 16 largest (by sales) US and European pharmaceutical companies, “Pharmaceutical companies and working capital management”, finds that the majority of big pharma players have a significant opportunity to release cash from working capital – between US$17 billion and US$35 billion, the equivalent of 3% to 7% of [...]